|Module Title||BUSINESS PLANNING AND CONTROL|
|Co-ordinator||Mr Iain McDougal|
|Semester||Semester 2 (Taught over 2 semesters)|
|Pre-Requisite||RD15810 Business Management|
|Mutually Exclusive||RD29010 Farm Management|
|Assessment||Business development plan||Outcomes assessed: 1, 2, 3, 4, 5||90%|
|Financial statements exercise||Outcomes assessed: 1a, 2||10%|
Business planning, decision making, taxation and investment appraisal are all essential aspects of management and necessary for successful business control. This module provides a comprehensive understanding of the concepts and principles involved in
managing a business and incorporates analysing and solving business problems. In addition this module provides students with appraisal techniques essential for managers in planning and controlling the business.
Preparation of a business plan
a. Budgets are prepared and reconciled.
b. Objectives are identified and met.
c. Realism and prudence are demonstrated.
Interpret and analyse a set of financial statements
a. Strengths and weaknesses of the financial statements are identified.
b. The underlying trends and variances are established.
c. Key aspects are recognised and reported.
Financial Statements:- Balance Sheet-Cash Flow-Trading Profit and Loss Account
-Funds Flow Statement-Gross Margin Account
Data:- Physical-Financial-Comparative Analysis-Net Farm Income-Management and
Prepare an Investment plan, including appraisal and selection of appropriate finance
a. Relevant income and expenditure is identified.
b. Cash timings are identified and reported.
c. Suitable financing is suggested and interpretation of results is performed.
Recognise the functions and scope of UK taxation.
a. Different taxes are identified and explained.
b. Income tax liability is calculated.
c. Tax planning is addressed.
Identify the merits of different business structures
a. Alternative business structures are identified.
b. Strengths and weaknesses of the structures are established.
c, A knowledge fo the tax consequences is demonstrated.
Structures:- Partnership-Sole Trader-Company